Providing meaningful protection for mobile payment consumers : what tools are fit for purpose?

Mobile payments provide consumers with an innovative and convenient way of exchanging value. However, there are broader implications involved in adopting them, especially in the area of consumer protection. Owing to the consumer issues associated with mobile payments, it is imperative that regulators develop appropriate responses to these issues. A starting point in protecting mobile payment consumers is to ensure that they have access to the information necessary for evaluating the suitability of the service. This article considers two information remedies which may assist consumers in making such informed evaluations. While acknowledging the usefulness of these remedies, the article highlights the need for a more robust approach to protecting mobile payment consumers.